Jefferies Upgrades LHC Group (LHCG) to Hold

Jefferies upgraded LHC Group (NASDAQ: LHCG) from Sell to Hold with a price target of $20 (up from $19).

The firm comments, "We are upgrading LHCG to Hold and setting our PT at $20 (from $19) on the belief that, after the recent selloff in the stock, downside risk is limited even if the company falls short of meeting its reaffirmed FY11 EPS outlook. That said, we believe NT stock upside will be hampered by the persistent reimbursement overhang on the home nursing sector."

The firm cut FY11 EPS from $2.24 to $2.10, but raised FY12 EPS from $1.78 to $1.83.

For more ratings news on LHC Group click here and for the rating history of LHC Group click here.

Shares of LHC Group closed at $20.81 yesterday.

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